Homeowners Insurance Homeowners insurance is a great investment for a homeowner. A home is one of the biggest purchases anyone ever makes. It makes sense to protect it with good insurance coverage. That way you know you’re covered when and if disaster strikes. Here’s a quick intro to some basic homeowners insurance information. Do I Need Insurance? If you own a home, then yes, having insurance is to your advantage. Home insurance can be purchased by owners of single family homes. If you’re a landlord who owns several houses, you can purchase this coverage as well. But if you own an apartment building, you will need landlord insurance. Coverage for a homeowner also provides liability insurance, which covers people visiting your property who get hurt while there. Details This type of insurance covers damage to the home, such as damage from wind, fire, lightning, theft, vandalism and more. When you need help, you simply file a claim with your insurance company. If your claim is approved, then you will receive assistance. You might receive money or you might have an item replaced or repaired. Coverage Homeowners insurance is offered as HO-1 through HO-8. Each level provides coverage for a number of events that are specifically named. HO-5 is the exception because it only lists the events not covered. Keep in mind that flood, hurricane and earthquake insurance will need to be purchased separately. Benefits Homeowners insurance is beneficial to all homeowners. As long as an event is covered, the homeowner can be assured they’ll receive financial assistance. This peace of mind is worth the cost of the insurance.